Russian stocks decrease amid nervous foreign sentiments

MOSCOW, Oct 12 (PRIME) -- The Russian stock market edged down on Tuesday pressured by global investors’ wariness about inflation and possible tightening of monetary policies, analysts said.

The MOEX Russia Index fell 0.38% to 4,263.80 and the RTS decreased 0.66% to 1,869.94.

“The MOEX Russia Index and the RTS were trading slightly negative at the end of the trading session, just above the 4,230 and 1,850 support lines, respectively… Short-term overbought is being removed from the market, which can resume growth in case there are positive external or internal signals,” Veles Broker analyst Yelena Kozhukhova said.

Sentiments of the global stock exchanges stabilized ahead of the second half of the week, which is to be full of events including publication of macroeconomic data by China, Europe and the U.S. The markets are frightened about inflation and possible tightening of monetary policies, she also said.

PSB Bank analyst Yegor Zhilnikov said that the Russian stock indices were mainly pressured by the negative dynamics of the blue chips, correcting downwards after previous gains.

Kozhukhova said that precious metals producers performed better than the market in light of the gold price’s attempts to consolidate above U.S. $1,760 per ounce. Polyus added 3.94% and Polymetal International rose 2.59%.

Below are the MOEX Russia Index’s five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-1.3	364.99	19.098
Sberbank	-2.48	378	18.826
ALROSA	+0.5	143.06	5.707
Lukoil	+0.92	7331	5.618
Norilsk Nickel	+0.04	22652	4.052

(71.6373 rubles – U.S. $1)

End